Bitcoin, BTC to USD, fell by 2.34% on Monday. Reversing a 1.92% gain from Sunday, Bitcoin ended the day at $45,960.0.
Recovering from a bearish morning, Bitcoin rallied to an early afternoon intraday high $46,874.0 before hitting reverse.
Bitcoin broke through the first major resistance level at $46,745 before sliding to a mid-afternoon intraday low $43,444.0.
The sell-off saw Bitcoin fall through the first major support level at $45,053 and the second major support level at $44,068.
Steering clear of sub-$43,000 levels, however, Bitcoin broke back through the second major support levels to end the day at $44,900 levels.
Late in the day, the first major support level at $45,053 pinned Bitcoin back.
The near-term bullish trend remained intact, in spite of the latest return to $43,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.
The Rest of the Pack
Across the rest of the majors, it was a bearish day on Monday.
Litecoin (-1.99%) and Polkadot (-0.27%) saw relatively modest losses on the day, however.
Early in the week, the crypto total market rose to a Monday high $2,143bn before tumbling to a Monday low $1,976bn. At the time of writing, the total market cap stood at $2,066bn.
Bitcoin’s dominance fell to a Monday low 40.62% before rising to a high 41.52%. At the time of writing, Bitcoin’s dominance stood at 41.04%.
At the time of writing, Bitcoin was up by 0.25% to $45,071.0. A mixed start to the day saw Bitcoin fall to an early morning low $44,847.0 before rising to a high $45,291.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day.
Binance Coin (-0.02%) and Bitcoin Cash SV (-0.74%) saw red early on.
It was a bullish start for the rest of the majors, however.
At the time of writing, Crypto.com Coin was up by 2.08% to lead the way.
For the Bitcoin Day Ahead
Bitcoin would need to move back through the $45,093 pivot to bring the first major resistance level at $46,741 into play.
Support from the broader market would be needed for Bitcoin to break out from $46,500 levels.
Barring a broad-based crypto rally, the first major resistance level and Monday’s high $46,874.0 would likely cap the upside.
In the event of a broad-based crypto rally, Bitcoin could test resistance at $50,000 before any pullback. The second major resistance level sits at $48,523.
Failure to move through the $45,093 pivot would bring the first major support level at $43,311 into play.
Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$41,000 levels. The second major support level at $41,663 and the 38.2% FIB of $41,529 should limit the downside.